Steel prices continued to fall, while iron ore rose on improving relations between Australia and China, but were capped by weakness in China's property sector.
World steel prices
At the end of the trading session on July 16, the price of steel rebar for August delivery on the Shanghai Stock Exchange decreased by 0.65% (20 yuan) to 3,051 yuan/ton. On the Dalian Stock Exchange, the price of iron ore for August delivery increased by 0.6% (4.5 yuan) to 772.5 yuan/ton. Similarly, the price of iron ore for August delivery on the Singapore-SGX Exchange increased by 1.02 USD to 98.92 USD/ton.
Australia exports a large amount of iron ore to China. On July 14, Australian Prime Minister Anthony Albanese visited Beijing with the leaders of major mining companies such as Rio Tinto, BHP and Fortescue. They met with Chinese steel industry officials, according to Reuters.
Following a meeting between Mr Albanese and Chinese President Xi Jinping, the two countries agreed to establish a Policy Dialogue on Decarbonisation of the Steel Industry. Mr Albanese also said the free trade agreement between the two countries, which has been in place for more than a decade, would be reviewed. China is currently Australia’s largest trading partner.
Despite renewed talk of decarbonisation, BHP has determined that low-emissions steel is too expensive to produce, and has decided “not to produce green steel itself”.
Demand for steel in China's manufacturing sector remains strong, while expectations of supply-side support policies have also helped boost prices, according to a note from brokerage Galaxy Futures.
However, amid a continued slowdown in China's property market, crude steel output in June fell 9.2% year-on-year, bringing total output in the first half of the year to its lowest level since 2020.
This has somewhat dampened the positive sentiment that has been building in recent weeks, which was driven by signs of a strong recovery in demand, according to analysts from ANZ.
Other raw materials used in steel production on the DCE also fell, with coking coal and coke prices down 1.48% and 1.45%, respectively.
Reuters news agency quoted the National Bureau of Statistics of China as saying that in the first half of this year, real estate sales by area fell 3.5% year-on-year. Real estate investment in the January-June period fell 11.2% year-on-year to 4.67 trillion yuan.
New construction volume by area also decreased by 20% compared to the same period last year.
Capital raised by Chinese real estate developers in the first half of the year fell 6.2% year-on-year.
Chinese Premier Li Qiang, according to Bloomberg, pledged at a State Council meeting in June that the government would stem the property market’s decline. A similar pledge by top leaders in September last year was followed by a package of stimulus measures.
However, some economists believe Beijing may not roll out large-scale support measures in the near term to maintain policy flexibility in case trade tensions with the U.S. The market is showing a clear downward trend, according to preliminary June data from analysts Jie Li and Damon Shen of UOB Kay Hian.
Domestic construction steel prices
Updated from SteelOnline.vn, steel prices in the Northern, Central and Southern regions are stable, currently steel prices fluctuate from 12,520 - 13,580 VND/kg for products such as CB240 and D10 CB300.
In the North: Viet Duc Steel: CB240 rolled steel at 13,050 VND/kg; D10 CB300 ribbed steel bar at 12,440 VND/kg. Hoa Phat Steel: CB240 rolled steel at 13,230 VND/kg; D10 CB300 ribbed steel bar at 12,830 VND/kg. Viet Sing Steel: CB240 rolled steel at 13,130 VND/kg; D10 CB300 ribbed steel bar at 12,930 VND/kg.
Viet Y Steel: CB240 steel coil price 13,130 VND/kg; D10 CB300 ribbed steel bar price 12,520 VND/kg. VAS Steel: CB240 steel coil price 13,130 VND/kg; D10 CB300 ribbed steel bar price 12,730 VND/kg.
In the Central region: Viet Duc Steel: CB240 coil steel is priced at 13,550 VND/kg; D10 CB300 ribbed steel is priced at 13,500 VND/kg. Hoa Phat Steel: CB240 coil steel is priced at 13,230 VND/kg; D10 CB300 ribbed steel is priced at 12,830 VND/kg. VAS Steel: CB240 coil steel is priced at 13,230 VND/kg; D10 CB300 ribbed steel is priced at 13,730 VND/kg.
In the South: Hoa Phat Steel: CB240 coil steel is priced at VND13,230/kg; D10 CB300 ribbed steel is priced at VND12,830/kg. VAS Steel: CB240 coil steel is priced at VND13,130/kg; D10 CB300 ribbed steel is priced at VND12,730/kg. TungHo Steel: CB240 coil steel is priced at VND13,030/kg; D10 CB300 ribbed steel is priced at VND12,530/kg./.
Source: https://baolamdong.vn/gia-thep-hom-nay-17-7-dien-bien-trai-chieu-382561.html
![[Infographic] In 2025, 47 products will achieve national OCOP](https://vphoto.vietnam.vn/thumb/402x226/vietnam/resource/IMAGE/2025/7/16/5d672398b0744db3ab920e05db8e5b7d)
Comment (0)